Leeward Investments LLC MA Lowers Stake in Reinsurance Group of America, Incorporated (NYSE:RGA)

Leeward Investments LLC MA cut its stake in Reinsurance Group of America, Incorporated (NYSE:RGA) by 20.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 70,134 shares of the insurance provider’s stock after selling 17,586 shares during the quarter. Leeward Investments LLC MA owned about 0.11% of Reinsurance Group of America worth $15,280,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Meeder Asset Management Inc. purchased a new stake in shares of Reinsurance Group of America during the first quarter valued at about $675,000. Price T Rowe Associates Inc. MD boosted its position in shares of Reinsurance Group of America by 22.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 143,178 shares of the insurance provider’s stock worth $27,617,000 after purchasing an additional 26,306 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its stake in Reinsurance Group of America by 50.9% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 7,486 shares of the insurance provider’s stock worth $1,459,000 after buying an additional 2,524 shares during the last quarter. State Board of Administration of Florida Retirement System increased its position in Reinsurance Group of America by 5.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 67,400 shares of the insurance provider’s stock valued at $13,000,000 after buying an additional 3,247 shares in the last quarter. Finally, M&G Plc raised its position in shares of Reinsurance Group of America by 5.0% in the 2nd quarter. M&G Plc now owns 85,153 shares of the insurance provider’s stock valued at $17,456,000 after purchasing an additional 4,025 shares during the last quarter. 95.11% of the stock is owned by institutional investors.

Reinsurance Group of America Stock Up 6.9 %

Shares of RGA opened at $227.70 on Thursday. The stock has a 50 day moving average price of $215.96 and a 200 day moving average price of $209.94. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.17 and a current ratio of 0.17. The stock has a market capitalization of $15.00 billion, a price-to-earnings ratio of 20.91 and a beta of 0.92. Reinsurance Group of America, Incorporated has a one year low of $153.79 and a one year high of $227.87.

Reinsurance Group of America (NYSE:RGA) last released its quarterly earnings data on Thursday, October 31st. The insurance provider reported $6.13 EPS for the quarter, beating analysts’ consensus estimates of $5.31 by $0.82. Reinsurance Group of America had a net margin of 3.32% and a return on equity of 15.01%. The company had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.29 billion. During the same quarter in the prior year, the firm earned $5.57 EPS. Reinsurance Group of America’s quarterly revenue was up 9.7% on a year-over-year basis. Equities research analysts forecast that Reinsurance Group of America, Incorporated will post 21.74 earnings per share for the current fiscal year.

Reinsurance Group of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th will be given a dividend of $0.89 per share. The ex-dividend date is Friday, November 8th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.56%. Reinsurance Group of America’s payout ratio is currently 32.69%.

Insider Activity at Reinsurance Group of America

In other news, EVP William L. Hutton sold 1,209 shares of Reinsurance Group of America stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $218.97, for a total value of $264,734.73. Following the completion of the sale, the executive vice president now directly owns 12,357 shares of the company’s stock, valued at approximately $2,705,812.29. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.37% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on RGA shares. Morgan Stanley cut their price target on shares of Reinsurance Group of America from $238.00 to $236.00 and set an “equal weight” rating on the stock in a research note on Monday, August 19th. Citigroup raised their target price on Reinsurance Group of America from $194.00 to $252.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Piper Sandler boosted their price target on Reinsurance Group of America from $237.00 to $242.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada lifted their target price on Reinsurance Group of America from $235.00 to $245.00 and gave the stock an “outperform” rating in a report on Monday. Finally, Raymond James increased their price target on shares of Reinsurance Group of America from $228.00 to $250.00 and gave the stock a “strong-buy” rating in a report on Tuesday, September 24th. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Reinsurance Group of America has an average rating of “Moderate Buy” and an average target price of $227.38.

About Reinsurance Group of America

Reinsurance Group of America, Incorporated engages in reinsurance business. The company offers individual and group life and health insurance products, such as term life, credit life, universal life, whole life, group life and health, joint and last survivor insurance, critical illness, disability, and longevity products; asset-intensive and financial reinsurance products; and other capital motivated solutions.